I have a 380 dollar car payment my grandmother co-sign for me, will that go on my credit or hers?
2007-03-19 03:00:36 · 7 answers · asked by Lora 1 in Business & Finance ➔ Credit
How long will it take for it to show up? Also , How good will it look?
2007-03-19 03:09:45 · update #1
It will go onto both. If you miss a payment, it will put a strike onto both. The idea is that the person with good credit will want to keep late/missed payments off of their credit history and that they will hound you to pay on time or will take over payments if you are unable to pay.
2007-03-19 03:03:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Co-signed loans appear on both of the signers credit reports. They will either show up with a J or a C on the right hand side of the report under the lenders name. No one who looks at your credit bureau will know who is the primary buyer and who is the co-signer. They will only know that it's a joint loan.
2007-03-19 03:10:03 · answer #2 · answered by ? 7 · 0⤊ 0⤋
If you make all your payments in a timely manner it will go on just your credit rating. If you get behind they will go to your co-signer for the money then you and your co-signer will have negative comments on your credit rating.
2007-03-19 03:09:51 · answer #3 · answered by Barbiq 6 · 0⤊ 0⤋
since you're also the co-signer, the credit will go to both.
2007-03-19 03:47:46 · answer #4 · answered by SGElite 7 · 0⤊ 0⤋
It will go on both of your credit reports.
2007-03-19 03:04:24 · answer #5 · answered by reandsmom77 6 · 0⤊ 0⤋
it is on your both reports,,, so if you miss it will go on her credit report and she will not be happy
2007-03-19 03:07:50 · answer #6 · answered by cmhurley64 6 · 0⤊ 0⤋
yes it will...
2007-03-19 04:57:04 · answer #7 · answered by shorty21 5 · 0⤊ 0⤋